We are picking up our 2016 RX350 on Mon. The Dealer is offering a 10 yr 100,000 mile Zero deductible platinum extended plan for $2995. We generally keep our cars for 10 years. The plan includes the following
1. key replacement
2. dent and ding removal
3. tire/wheel road hazard protection
4. replacement of covered components resulting from the gradual wear and use when the wear exceeds manufacturer's specifications. Coverage includes repairs to vehicles mechanical and electrical systems such as engine, transmission, drive axle, air conditioning, and electrical. Not covered are all routine maintenance items.

The financial consultant at the dealership is saying that if one wants to get this discounted price a decision has to be made at the time of purchase.

Any feedback would be greatly appreciated.

Thanks so much.

 

Number 4 has a huge grey area for me.

I know people who have driven their Lexus for well over 100K and never had any maint issues.

The odds are always in the favor of the dealer. and they hope that putting the plan in with your financing well sell it.

 

thanks for your reply. On my 2004 RX which I am trading in I just had a headlight burn out at 115K miles.

 

I really like #2, dent and ding removal. I never know dealership actually offer those body work. I just recently removed one of my dent that hint by unknow object. and it costed me near 500 dollar for 3 spot. I guess 2995 for 10 years is actually good deal. but I think it is very hard to make a decision for future since you might protect your car super well haha.

 

I assume Rallye?

Anyways i would suggest your liaison to forward you the exact contract specifying the provider, coverage, and exclusion policies for this.

And no a brochure does not work.

Figure out what the terms are and provider. If the provider is Lexus, and the terms listed are actually in the contract, then boy is that a steal of deal.

 

Yes it is Rallye. Your feedback makes a lot of sense
Thanks

 

For what it's worth. I turned their offer down. Even after they discounted it. Just don't ask me exactly how much cause it's been quite a few months already but it was 2-3 hundred range. I thought in the long run wasn't worth it to me. It already has 4/50k warranty out of the box. $3k for the difference and other addons just wasn't for me.

 

I switched to Geico insurance when I bought my 16' RX (half of what State Farm was charging). They told me about their Mechanical Breakdown Insurance (MBI). It is for 7 years/ 100K with a $250 deductible; bumper to bumper. You have to enroll before your car is <15 months old and <15K mi. It starts out very cheap (was quoted $58 for 1st year) but does go up. I calculated it would cost $600 total for 6 years. I realize it's useless during the factory warranty period, but doesn't seem too expensive for 3 extra years of B to B coverage.

 

How did you get $600 total?

 

The increases are: Years 1-3 = 1-2% increase (I would start in year 2 because of factory warranty)
Year 2 cost = $60
Year 3 Cost = $62
Year 4 = 10% increase
Year 4 cost = $68
Year 5 = 50% increase
Year 5 cost = $102
Year 6 = 25% increase
Year 6 cost = $128
Year 7 = 30% increase
Year 7 cost = $166

Total cost for 6 years = $586

 

The Geico MBI is an insurance policy. If a auto brand has a history of expensive repairs (eg. BMW, Mercedes) the initial amount is much higher. If there are a lot of claims for a particular model, the increases I've listed above can be greater. Downsides are: if you sell/trade the car, the warranty is nontransferable and if Geico jacks up your insurance rates and you decide to leave, you loose your warranty.

 

Where did you purchase your warranty?

 

I realize that when it comes to extended warranties YMMV (pun intended). And they can provide some peace of mind although most people I know that have them seem to run into coverage issues when submitting a claim.

In my case I just sold my '05 RX with 140k miles. Even with the steering rack failure, wheel bearing replacement, and HID leveling sensor, I'm nowhere near $3k. Heck, even the HID bulbs are the originals.

The Lexus reliability is a primary reason I bought the '16 RX.

 

Hello all,

Just got my wife's RX450h, very excited!

I am wondering if I still can buy extended warranty from out-of-state dealers. If so, could anyone recommend a dealer with a good price? Otherwise, anyone know which dealer has a good price in North Carolina?

Thanks a lot!

 

Toby Rivers
Lexus of Shreveport
1-800-335-3987
tobytoyota@aol.com